Revolution Announces Resignation of Chief Financial Officer
06 Mayo 2019 - 7:30AM
Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) (“Revolution
Lighting” or the “Company”), a global provider of advanced LED
lighting solutions, announced today that James DePalma, a director
and the Chief Financial Officer of the Company, resigned for
personal reasons effective May 2, 2019. Mr. DePalma has offered to
make himself available, as needed, to assist the Company’s efforts
to transition to a new Chief Financial Officer. He also plans to
continue to cooperate with the Company’s audit committee review and
investigation into accounting issues.
The Company has commenced a search for a new Chief Financial
Officer. In the interim, Robert V. LaPenta, Chairman, CEO and
President of the Company, will assume Mr. DePalma’s duties as
principal financial officer and principal accounting officer until
the Company identifies an interim or permanent chief financial
officer.
“On behalf of the Board and the Company, I thank Jim for his
contributions and the role he has played at the Company,” said Mr.
LaPenta.
About Revolution Lighting
Revolution Lighting Technologies, Inc. is a leader in the
design, manufacture, marketing, and sale of LED lighting solutions
focusing on the industrial, commercial and government markets in
the United States, Canada, and internationally. Through advanced
LED technologies, Revolution Lighting has created an innovative
lighting company that offers a comprehensive advanced product
platform of high-quality interior and exterior LED lamps and
fixtures, including signage and control systems. Revolution
Lighting is uniquely positioned to act as an expert partner,
offering full service lighting solutions through our operating
divisions including Energy Source, Multi-Family and Tri-State LED
to transform lighting into a source of superior energy savings,
quality light and well-being. Revolution Lighting Technologies
markets and distributes its products through a network of regional
and national independent sales representatives and distributors, as
well as through energy savings companies and national accounts.
Revolution Lighting Technologies trades on the Nasdaq Capital
Market under the ticker RVLT. For more information, please visit
rvlti.com and connect with the Company on Twitter, LinkedIn and
Facebook.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed
herein are “forward-looking statements” within the meaning of the
applicable securities laws and regulations. The words “estimates”,
“expects,” “intends,” “believes” and similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
Forward-looking statements, including statements regarding the
Company’s ability to identify and hire a new Chief Financial
Officer involve risks and uncertainties that may cause actual
results to differ materially from those stated here. Factors that
could cause actual results to differ materially from those in the
forward-looking statements include, but are not limited to, the
Company’s ongoing investigation into its revenue recognition
practices and other risks described more fully in the Company’s
filings with the Securities and Exchange Commission.
Forward-looking statements reflect the views of the Company’s
management as of the date hereof. The Company does not undertake to
revise these statements to reflect subsequent developments.
RVLT Investor Relations Contact:Amato and Partners, LLCInvestor
Relations Counseladmin@amatoandpartners.com
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